BCML vs SPY: Correlation
How closely do BayCom Corp (BCML) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCML and SPY?
On 3 years of weekly data the BCML/SPY correlation comes out at 0.32, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.00 versus 0.32 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 115.8 %².
Among the 14 assets we track against BCML, SPY sits near the bottom by co-movement, at rank #10. The last year tells two different stories: SPY led by 18.5 percentage points, +2.1% for BCML against +20.6% for SPY. One caveat on sizing: BCML is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BCML vs SPY: side by side
| BCML (BayCom Corp) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +2.1% | +20.6% |
| 5-year return | +92.9% | +82.4% |
| Volatility (ann.) | 24.7% | 14.5% |
| Beta vs S&P 500 | 0.55 | 1.00 |
| Max drawdown (3Y) | -19.7% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 3.81% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | BCML | SPY |
|---|---|---|
| 2022 | +2.2% | -18.2% |
| 2023 | +26.9% | +26.2% |
| 2024 | +16.0% | +24.9% |
| 2025 | +13.0% | +17.7% |
| 2026 | +4.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCML and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BCML and SPY?
As of 2026-08-27, the correlation of weekly returns between BCML and SPY is 0.32 over 3 years, -0.00 over 1 year and 0.28 over 5 years.
Is SPY a good diversifier for BCML?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BCML correlations · SPY correlations
